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While I understand the sentiment of your analogy, I think a big part that’s missing in your analogy is that the water bottle company loses a ton of money (if no
by syntaxing 6y ago
While I understand the sentiment of your analogy, I think a big part that’s missing in your analogy is that the water bottle company loses a ton of money (if not bankrupt) if everyone keeps their water taps on and they gain a ton of money if they turn it off which changes the story completely. If I am the water company, and it’s in the water bottle interests, what stops the water company from simple saying “oh we have sewage issues” while the water bottle company rakes in the dough.
What I don’t get is why Robinhood didn’t outright explain this at first. It seems like it’s a good excuse and they announced it right after the media suggested this was the possibility.
- rsynnott 6y agoThey probably should have. But “we are virtually insolvent”, if that was the case, is not the sort of thing that companies, especially private companies, are normally excited about doing. Bad look.